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The Greatest Depression
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[QUOTE]Originally posted by Lockman: [QB] [QUOTE]Originally posted by glassman: [qb] [b]Your argument that because rich people pay more taxes that gives them the right to bail outs is just another entitlement fantasy. You make BAD decsions you lose period.[/b] they didn't just make bad decisions tho... this collapse was created by Wall St. it didn't just happen by accident they are the ones that created the CDses and they prolly should have failed. but 25% real unemployment has been nearly reached and it wasn't the employees that did it. It was done by the very top levels of management who don't give damn cuz they get paid enough every year to make for a secure retirement.... as to the total taxes collected? yes it drops down when you add the SS and few others to it, but it doesn't come down much... it really is true that 70% of the weatlh is in 10% of the peoples hands, and that wealth number is going up... [/qb][/QUOTE]I agree that the trigger that caused the collapse was wall street, but their products were the direct result of government interference in the housing markets. The government incouraging Banks (sometimes insisting)to loan money to non-qualified applicants is the root of the problem. Ok 70% of the wealth was protected and made sure it stayed there too. That's what the bailouts were all about. I'm not saying the government should not of gotten involved in the financial crisis, it obviously had too. My argument is that those responsible should of had a serious financial stake in the collapse and all I saw was a free ride. We have rules and regualations in place that have to be followed or else we dont' have a system. The government could of come in and delt with banks the same way as always. What happened was a plan thrown together over about a weeks timeframe that disreguarded all the rules and has caused such doubt in business decisions that I feel a recovery is years away. It's not until businesses know what the real game plan is that we will have any real growth, that is if private employment is our future, sometimes I wonder. [/QB][/QUOTE]
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